South Korean Democratic Party Launches Digital Asset Committee to Shape Crypto Policies

South Korea’s largest political party, the Democratic Party, has established a dedicated Digital Asset Committee to address regulatory concerns related to cryptocurrency. This committee held its inaugural meeting at the National Assembly Members’ Hall on May 13th, as reported by Cointelegraph. The committee is poised to develop policy recommendations and promote the growth of the industry. Key challenges identified include stablecoin regulation, a system that restricts exchanges to partnerships with only one banking institution, and the need for clearer guidelines on crypto asset issuance.